Changes to State Pension age
Under current legislation, State Pension age is planned to increase to:
- 66 between November 2018 and October 2020
- 67 between 2034 and 2036
- 68 between 2044 and 2046
The government has announced that the increase to 67 will now take place between 2026 and 2028. This change to the timetable is not yet law and will require the approval of Parliament.
Who is affected by the announcement?
This will mean that people born after 5 April 1961 but before 6 April 1969 will have a State Pension age of 67.
People born after 5 April 1960 but before 6 April 1961 will reach State Pension age between 66 and 67. Under the Pensions Act 2007, people born after 5 April 1969 but before 6 April 1977 already have a State Pension age of 67. For people born after 5 April 1968 but before 6 April 1969, their State Pension age would have been between 66 and 67. Under the announcement these people will now have a State Pension age of 67.
Changes to State Pension age beyond 67
State Pension age is planned to start to increase to 68 from 2044 and this would affect anyone born after 5 April 1977. The government is considering how the State Pension age could better reflect changes in life expectancy in the future. This is likely to mean that the existing timetable to increase State Pension age to 68 will be revised.
What’s more, Andrew’s many years of experience means that there are few situations that he has not encountered meaning the advice he offers is based on a working knowledge not text book learning.